I know a lot of post has been made in this gambling board and I don't know if such has been created, but what I want to say is a situation that happened to a close friend
My friend is a gambler, a serious one for that matter. Some days ago he asked me to borrow him money to gamble and I told him not to borrow money to gamble but gamble with what he can afford to lose but he refused. Instead he went ahead to borrow from another person to pay back with interest, gues what?
He loss the game and now he is owing Capital and interest together that will surely be paid now he keeps blaming me that If I had given the loan to him, that he would have just owe me the capital without interest.
>>>>Now the question remain that Is it good to take loan to gamble?
>>>>Or is there some game that worth risking to an extent of taken loan?
Gambling with borrowed money is hardly a good financial decision. But your friend was probably in a desperate situation, or he is suffering from gambling addiction. Now, from his point of view, the situation really looks like you refused to help him and he was forced to borrow money at interest. I'm afraid he won't even be able to understand your refusal of a loan as an attempt to protect him from a bad financial decision or gambling addiction.
People think and reason differently, you are right that the op did try to save him from bad financial decision but unfortunately for him, he did not understand because he was already addicted to gambling and the urge to gamble at that time was already there and pushing or controlling him.
It's even good that he resorted to borrowing money with interest and not stealing, this would have been the worst of all as I have seen some addicted gamblers who ended up being beaten and taken to prison due to stealing money.
Concerning the losing the borrowed money, it's unfortunate that the deed has already been done and there is no way to reverse it other than him paying back the borrowed money before the interest gets too high and he is unable to pay it, and hope this teaches him a lesson and he finds a way to ensure he never finds himself in this type of situation again.
Absolutely right. Unfortunately, in a state of feverish excitement, many gamblers do not realize that gambling with borrowed money is even riskier than trading with leverage. And by the way, if a margin call happens, at least the unlucky trader's legs won't be broken. But an unsuccessful gambler, if he cannot repay the debt with interest, creditors may well break his bones, depending on where the gambler borrowed money (if they are semi-criminal loan sharks). So such a life lesson can have a very bad effect on health.
I've made incredibly dumb bets myself and lost, but I've never played with borrowed money. You just need to treat yourself more harshly in order to feel responsible.